Assistant OpinionJournal.com editor Allysia Finley on a new study that finds that tapping the Monterey Shale Formation could create 2.8 million new jobs in California. Photo: Associated Press

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... welcome back to Opinion Journal I'm Mary Kissel ... California is home to many things it did note that the state ... sits on top of two thirds of American shale oil ... my Wall Street Journal editorial page colleagues Elisa Finlay a California native ... is here to explain how tapping that resource ... might save the state of the ... Elisa two-thirds of the nation's shale oil Smith says ... I is this new thing I mean how widely known that this is their own known for years had been ages hasn't been heard Weak Stock bulls because of technology just hasn't been there but now ... I'll engineers actually think that help born in the am at Chevron and he's welcome these may actually be what's happened ... okay ... now there's been a big outcry in New York for example Against fracking I can only imagine what they would say in California ... of of me and made Quantum quote earthquakes ... um is there a constituency ... but to support happiness this resource ... pool I'd imagine the public unions will be their turn on the revenue ... I'm assuming that they can get twenty five billion dollars in additional ... local and state tax revenues by twenty twenty from the sky was put up a chart here does have a look at some of California's numbers ... I've tax revenues twenty twenty twenty four billion dollars ... contract ... in ETP and Reses ... thousandthree hundred dollars not to mention the unemployment rate so we should ... speak to a little bit about that about this chart ... three point three percent in North Dakota nine point eight percent in California that it's actually understand the problem ... is the most these inland areas where they still is ... done and cleaning rates from fifteen percent to ... fifteen percent compared to about the matter is that's an average ... Irish on Windows eight in the inland regions ... and in many North in color the South Dakota awhile mean where they had reached a energy resources ... the unemployment rate is much lower and McDonald's is hiring people for Y ten thousand dollars citing the money says this is to get tired ... that meet the rules so at ease this why oil companies donated so heavily to Governor Brown's campaign because they ... they saw this opportunity there I think you have to scratch your head and wonder that now anyone reason was they probably want that when driving the ... net income or revenue company income tax than unwell severance tax but they probably would also later I easier regulations in any will see it unable to get asked all these while ... get it you have a a a a fully Democratic legislature in Sacramento when any chances ... that that Legislature ... a meeting with pressure from Governor Moonee and ... I would allow ... this kind of economic activity to happen but the new mini me actually and its CEO will civil war between the public employee unions and environmentalists as ... you know you want to read and they want to read any of ... them in that man's listing on the sleeve make the entire see an actual ... we got a failure of the of Monterrey in this era ... shale oil ... yet look at that time not Digs doesn't exactly look like Midland Texas with the pump jacks ... it's pretty green pretty un Scotch Felicia it's again the green light tomorrow ... could they start tapping these resources or is the technology in a couple years or less the put some concerns about league whether the Rockies with and he actually really into it because of seismic activity than not sure ... that the dude I'd expect within the next few years that the will be able to ... take over watch this space my Wall Street Journal it oral page valuation family ... thank you so much for staying with us ... next up ... and the flight and B two bombers over South Korea ... it's scary manure there ... isn't a symbol of ... state and ...